Access Community Credit Union Mortgage Rates, Fees & Info
Amarillo, TXLEI: 549300ZLEJNF277L8Q40
Tax ID: 75-0870689
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Mortgage Data
Review & Overview
Access Community Credit Union is a smaller credit union specializing in Home Purchase loans. Access Community Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Amarillo, Lubbock, Dallas, and Pampa among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Access Community Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Access Community Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.23% | 4/28/24 |
| 30 Year Conventional Refi | 6.85% | 4/28/24 |
| 30 Year Cash-out Refi | 6.79% | 4/28/24 |
| 30 Year FHA Purchase | 7.64% | 4/28/24 |
| 15 Year Conventional Purchase | 6.33% | 4/28/24 |
| 15 Year Conventional Refi | 6.39% | 4/28/24 |
| 15 Year Cash-out Refi | 6.39% | 4/28/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Access Community Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
57Origination Dollar Volume (All Markets)
$6,425,000Awards
Access Community Credit Union - 2018
Access Community Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| AMARILLO, TX (FHA|USDA|VA) | 44 | $4,810,000 | $109,318 | $2,171 | 4.75% |
| LUBBOCK, TX (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $3,961 | 5.21% |
| Outside of Metro Areas | 5 | $485,000 | $97,000 | $4,492 | 5.99% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,546 | 4.47% |
| Pampa, TX (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $977 | 5.37% |
Similar Lenders
We use machine learning to identify the top lenders compared against Access Community Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 35
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 56 | $6,280,000 | $112,143 | $2,469 | 4.81% |
| FHA | 1 | $145,000 | $145,000 | $0 | 0.00% |
For 2018, Access Community Credit Union's most frequently originated type of loan was Conventional, with 56 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 57 | $6,425,000 | $112,719 | $2,469 | 4.81% |
For 2018, Access Community Credit Union's most frequently cited loan purpose was Home Purchase, with 57 originations.
Loan Duration/Length
For 2018, Access Community Credit Union's most frequently cited loan duration was 30 Year, with 25 originations. The 2nd most popular length was 15 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 52 | $5,710,000 | $109,808 |
| $1k-2k | 3 | $515,000 | $171,667 |
Access Community Credit Union's average total fees were $3,658, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 52 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 19 | $2,605,000 | $137,105 |
| 3-4% | 15 | $1,865,000 | $124,333 |
| 5-6% | 14 | $1,310,000 | $93,571 |
| 6-7% | 4 | $180,000 | $45,000 |
During 2018, Access Community Credit Union's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.
Loan Sizing
2018 saw Access Community Credit Union place emphasis on $100,000 or less loans with 30 originations, totaling $1,720,000 in origination value.
Applicant Income
Access Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $100k-150k, with 13 originations.
Applicant Debt to Income Ratio
Access Community Credit Union lent most frequently to those with DTI ratios of <20%, with 14 originations. The next most common DTI ratio? 20-30%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.01%
Access Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination61.40%
Access Community Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 57 | $6,425,000 | $112,719 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 57 | $6,425,000 | $112,719 |